Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Caterpillar Inc. shares valued at $1,508,835 were sold by Fassino Anthony D. on Feb 28 ’24. At $329.80 per share, Fassino Anthony D. sold 4,575 shares. The insider’s holdings dropped to 23,474 shares worth approximately $8.4 million following the completion of this transaction.
Also, MacLennan David purchased 350 shares, netting a total of over 113,180 in proceeds. Following the buying of shares at $323.37 each, the insider now holds 5,238 shares.
Before that, Fassino Anthony D. had sold 4,494 shares from its account. In a trade valued at $1,446,888, the Group President traded Caterpillar Inc. shares for $321.96 each. Upon closing the transaction, the insider’s holdings decreased to 4,494 shares, worth approximately $10.88 million.
As published in their initiating research note from Truist on March 14, 2024, Caterpillar Inc. [CAT] has been a Buy and the price target has been revised to $390. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in mid February. As of February 06, 2024, TD Cowen has reiterated its “an Outperform” rating for CAT. Earlier on January 08, 2024, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for CAT stock.
Analyzing CAT Stock Performance
During the last five days, there has been a drop of approximately -3.78%. Over the course of the year, Caterpillar Inc. shares have jumped approximately 21.06%. Shares of the company reached a 52-week high of $382.01 on 04/08/24 and a 52-week low of $276.94 on 01/17/24. A 50-day SMA is recorded $345.11, while a 200-day SMA reached $289.16. Nevertheless, trading volume fell to 1.92 million shares from 2.31 million shares the previous day.
Support And Resistance Levels for Caterpillar Inc. (CAT)
According to the 24-hour chart, there is a support level at 354.91, which, if violated, would cause prices to drop to 351.88. In the upper region, resistance lies at 362.22. The next price resistance is at 366.50. RSI (Relative Strength Index) is 49.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.04, which suggests the price will decrease in the coming days. Percent R is at 82.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
